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(M2) Pullback Considered Corrective

BOBL TECHS
  • RES 4: 135.000 Round number resistance
  • RES 3: 134.660 0.764 proj of the Feb 25 - Mar 1 - Mar 3 price swing
  • RES 2: 134.240 0.618 proj of the Feb 25 - Mar 1 - Mar 3 price swing
  • RES 1: 133.390/34.080 High Mar 8 / High Mar 7
  • PRICE: 132.360 @ 05:13 GMT Mar 9
  • SUP 1: 132.130 Low Mar 1 and key near-term support
  • SUP 2: 131.812/050 61.8% of the Feb 8 - Mar 7 rally / Low Feb 25
  • SUP 3: 130.780 Low Feb 23
  • SUP 4: 130.410 Low Feb 8 and a key support

Bobl futures remain bullish however the contract has extended the retracement from Monday’s high of 134.080. The next support to watch is at 132.130, the Mar 1 low where a break would suggest potential for a continuation lower. This would open 131.812, a Fibonacci retracement. A rebound would ease the near-term bearish pressure and refocus attention on the bull trigger at 134.080, Mar 7 high.

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